Electricity Distribution Companies (DisCos) in Nigeria have confirmed plans to increase electricity tariffs starting January 1, 2024.
The decision was reportedly reached during a virtual emergency meeting, according to a source within one of the distribution companies who spoke on the condition of anonymity.
The source mentioned that all preparations for the tariff adjustment have been finalized, leaving it to individual distribution companies to inform their customers about the upcoming changes.
The source stated, “All has been perfected for the new tariff to take effect from the first of January, 2024.
“It is now left for various electricity distribution companies to enlighten their customers on new developments,” he added.
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He revealed that the National Electricity Regulatory Commission (NERC) had already summoned distribution companies for a meeting to discuss this development.
Despite the mandatory requirement for electricity distribution companies to review tariffs every six months, concerns have arisen over the short notice given for this particular increase.
“In fact, we were perturbed by the short notice and how we would reach out to our customers about the increase,” he disclosed.
When questioned about the extent of the tariff increase, he articulated, “No idea so far, but the uncertainty has put us in a difficult situation.” #DisCos